§ 9-26-26 — § 9-26-26. Execution against corporation officers and stockholders.

Rhode Island § 9-26-26

• Jurisdiction: Rhode Island
• Title 9: COURTS and CIVIL PROCEDURE–PROCEDURE GENERALLY
• Ch. 9-26: Levy and Sale on Execution

Text

§ 9-26-26. Execution against corporation officers and stockholders.

On the hearing of the action authorized by § 9-26-25, unless the president and directors, trustees, managers, or other like officers, stockholders, or members shall make it appear that they had not, at the time of the service of process upon them, within their possession and control, sufficient property of the corporation to satisfy the judgment or any part thereof, the court shall issue execution against the president, directors, trustees, managers, or other like officers, stockholders, or members, for the amount of the judgment, with interest and costs, as for their own private debt; but if it shall appear that the officers, stockholders, or members had property to satisfy part of the judgment only, then an execution shall issue for that amount only and costs.

Legislative History

C.P.A. 1905, § 646; G.L. 1909, ch. 304, § 23; G.L. 1923, ch. 355, § 23; G.L. 1938, ch. 553, § 23; G.L. 1956, § 9-26-26; P.L. 1965, ch. 55, § 45.